Lagos - Nigeria’s foreign reserves increased to $38.49 billion on July 18 according to a latest report from the Central Bank of Nigeria (CBN).
The amount represents an increase of 3.8 percent over the June figure of $37.09 billion, reports BusinessDay.
The increase according to the apex bank is attributed to a more stable naira at the foreign exchange market.
Slowing demand for the dollars and increased dollar flows from independent sources other than the central bank have kept the naira stable against the dollar in the past two weeks.
Read more at BusinessDay.
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